Monday, May 7, 2007

SEGURO (Dyornal Entry for May 04, 2007)

Just received a letter from my insurance plan. Published from the official publication of Berkley/Family First newsletter that effective on 19 March 2007 Danvil Holdings, Inc. acquired Berkley Plans/Berkley Life and Family First in management buy out. Which means, the company is no longer a multinational company that can assured us plan holders of future financial security and stability, and it's names, trademarks, and logos will be changed within the next forty-five days.

WR Berkley Corporation provide a very strong billion dollar backing since it is foreign, and without this as a mother company I highly doubt Danvil's financial strength and expertise to remain unchanged because pre-need companies here in the Philippines experience problems as regard to their hard time looking for financial back-up.

What attracts me to invest in their insurance programs is its being multinational and it was in the Top 1000 Corporations in the country.

Is this another NFI? This abrupt change in ownership scares me. Since it becomes a new entity of a local propriety I can fathom it would be just like any other life insurance and preneed business - that shrink down and lost their major trust funds that leads to their inability to refund every single cent expected by their plan holders.

I swear, I'll never join in any club that would have me as a member. I'm bad luck!

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